FX.co ★ Serbia Inflation Rate Hits 5-Month High

In June 2025, Serbia experienced a rise in its annual inflation rate to 4.6%, marking the highest level recorded in the past five months, up from 3.8% in May. This increase was primarily driven by accelerated price hikes in several sectors: food and non-alcoholic beverages climbed to 7.4%, up from 5.7% the previous month; housing and utilities saw a slight rise to 3.4% from 3.3%; and recreation and culture increased to 3.9% from 3.6%. Additionally, miscellaneous goods and services expanded to 3.7%, compared to 3.4% in May, and the deflation in transport reduced to -1.2% from -3.4%, further contributing to the overall inflation rise. However, these upward pressures were somewhat mitigated by a decline in the inflation rates for alcoholic beverages, tobacco, and narcotics, which eased down to 6.4% from 6.9%, and clothing and footwear, which decreased to 4.9% from 5.5%. On a monthly basis, consumer prices rose by 0.9%—the fastest growth observed since May 2023—after recording a 0.2% increase in the preceding month.